Isn't cloud mining just a ponzi scheme designed to get people to hand over there hard earned BTC?

I am not signing up with you guys. Sorry.

Well, not all. Bitmain has hashnest and others have their own cloud mining services aswell.If it is a ponzi or not is quite "simple" to detect, especially in referal program earnings above 2,5% it is likely to be a ponzi, etc, etc, etc...

Isn't cloud mining just a ponzi scheme designed to get people to hand over there hard earned BTC?

I am not signing up with you guys. Sorry.

Hashnest, Bit-X and BW are legitimate and have exchanges where you can buy and sell hashing power. Genesis Mining is legitimate far as anyone knows just not transparent. Are they practicing fractional reserve mining? No one knows. Once you buy from GM you are stuck with it though. Hashnest is the hosted mining arm of Bitmain who introduced the S7 miner last month. S7 hash will trade on Hashnest about October 10 with maintenance fees half the best GM has to offer. Meaning no one with the smarts to research before they buy will be buying at GM until they update their hardware and lower maintenance fees.

Isn't cloud mining just a ponzi scheme designed to get people to hand over there hard earned BTC?

I am not signing up with you guys. Sorry.

Hashnest, Bit-X and BW are legitimate and have exchanges where you can buy and sell hashing power. Genesis Mining is legitimate far as anyone knows just not transparent. Are they practicing fractional reserve mining? No one knows. Once you buy from GM you are stuck with it though. Hashnest is the hosted mining arm of Bitmain who introduced the S7 miner last month. S7 hash will trade on Hashnest about October 10 with maintenance fees half the best GM has to offer. Meaning no one with the smarts to research before they buy will be buying at GM until they update their hardware and lower maintenance fees.

Will be posting BTC (AUTO) payouts based on 1MH/s X11 tomorrow so can compare with all the different Hashnest and GM contracts. Then when S7 hashpower is available will be purchasing that too so everyone can compare payouts with all from both.

Isn't cloud mining just a ponzi scheme designed to get people to hand over there hard earned BTC?

I am not signing up with you guys. Sorry.

Hashnest, Bit-X and BW are legitimate and have exchanges where you can buy and sell hashing power. Genesis Mining is legitimate far as anyone knows just not transparent. Are they practicing fractional reserve mining? No one knows. Once you buy from GM you are stuck with it though. Hashnest is the hosted mining arm of Bitmain who introduced the S7 miner last month. S7 hash will trade on Hashnest about October 10 with maintenance fees half the best GM has to offer. Meaning no one with the smarts to research before they buy will be buying at GM until they update their hardware and lower maintenance fees.

Will be posting BTC (AUTO) payouts based on 1MH/s X11 tomorrow so can compare with all the different Hashnest and GM contracts. Then when S7 hashpower is available will be purchasing that too so everyone can compare payouts with all from both.

You have tenacity; I gotta give you that! I have a contract so I have to ride it out until it gets shut down by GM and circumstances but I will stick to having hardware that I own running in data centers. Then I can use the resale value to upgrade to the next greatest thing coming off the assembly line. It has been very lucrative for me by doing it this way. I tried cloud mining as a test but it's not working out so well for me…there are just so few options. Actually there are no options here. So, no more of these contracts for me.

Isn't cloud mining just a ponzi scheme designed to get people to hand over there hard earned BTC?

I am not signing up with you guys. Sorry.

Hashnest, Bit-X and BW are legitimate and have exchanges where you can buy and sell hashing power. Genesis Mining is legitimate far as anyone knows just not transparent. Are they practicing fractional reserve mining? No one knows. Once you buy from GM you are stuck with it though. Hashnest is the hosted mining arm of Bitmain who introduced the S7 miner last month. S7 hash will trade on Hashnest about October 10 with maintenance fees half the best GM has to offer. Meaning no one with the smarts to research before they buy will be buying at GM until they update their hardware and lower maintenance fees.

Will be posting BTC (AUTO) payouts based on 1MH/s X11 tomorrow so can compare with all the different Hashnest and GM contracts. Then when S7 hashpower is available will be purchasing that too so everyone can compare payouts with all from both.

You have tenacity; I gotta give you that! I have a contract so I have to ride it out until it gets shut down by GM and circumstances but I will stick to having hardware that I own running in data centers. Then I can use the resale value to upgrade to the next greatest thing coming off the assembly line. It has been very lucrative for me by doing it this way. I tried cloud mining as a test but it's not working out so well for me…there are just so few options. Actually there are no options here. So, no more of these contracts for me.

People that look for roi don't care about genesis-mining, and genesis-mining doesn't care about people looking for roi,

just some noobs wanting some cloudmining so badly that they don't do any calculations before sending money.

For Genesis-Mining, can you give our more transparent about your mining pool, your mining calculator or etc instead of make people loss in long-term period?

Will x11 mining be really profitable compared to the one-year/lifetime contracts?

My first X11 payouts, not for a full 24 hours mining were the following. Based on 1MH/s

Dash 0.01593240 DRK

Startcoin 1.32863389

Payouts tomorrow will be a full 24 hours so should get a better idea. For some reason my BTC (AUTO) X11 payouts ended up being paid out as Dash as well, so not sure if i messed up or was something else.

I had purchased 3 x 1 MH/s X11 contracts so I could get a payout of each to share with users in my thread or youtube channel in future.

Sorry will not invest in this you proved once that you are not able to bring roi so i need to say goodbye even with this loyalty discount i dont see it difficulty still going up like hell no price rise.

My first X11 payouts, not for a full 24 hours mining were the following. Based on 1MH/s

Dash 0.01593240 DRK

Startcoin 1.32863389

What is your present allocation percentage of Dash and Startcoin ? Btw, will Startcoin be the most profitable among the two? (I thought of trying out a 3Mh/s hashpower) Let's hope all goes well

I opened 3 seperate accounts so i could have 100 percent on each choice as I want to make sure that everything is proper.

Having 3MH/s on an account could have led to issues as each would have had to have been set with 33.3333% etc.

I guess I will have to keep an eye on somewhere like Coinwarz to see which one is the most profitable.. I guess if you use BTC (AUTO) it will just do whichever is profitable or it could be that they have hashpower on an X11 multipool for BTC (AUTO) which is more than just Startcoin and Dash and all the other X11 coins too. I do not know.

My first X11 payouts, not for a full 24 hours mining were the following. Based on 1MH/s

Dash 0.01593240 DRK

Startcoin 1.32863389

What is your present allocation percentage of Dash and Startcoin ? Btw, will Startcoin be the most profitable among the two? (I thought of trying out a 3Mh/s hashpower) Let's hope all goes well

I opened 3 seperate accounts so i could have 100 percent on each choice as I want to make sure that everything is proper.

Having 3MH/s on an account could have led to issues as each would have had to have been set with 33.3333% etc.

I guess I will have to keep an eye on somewhere like Coinwarz to see which one is the most profitable.. I guess if you use BTC (AUTO) it will just do whichever is profitable or it could be that they have hashpower on an X11 multipool for BTC (AUTO) which is more than just Startcoin and Dash and all the other X11 coins too. I do not know.

Just thinking back to when Scrypt users could have BTC (AUTO)Ian

Thanks! I'll try out your strategy for a month and then will revert the other 2 accounts to the most profitable coin. Had it been that, they mentioned about the multipool that is being used while mining BTC (auto) then that would have been much easier for end users to monitor the ups and downs of that allocation!